SCHEDULES
SCHEDULE 12Minor and consequential amendments
Pensions Act 1995 (c. 26)
50
(1)
Section 38 (power to defer winding up) is amended as follows.
(2)
In subsection (2)—
(a)
in paragraph (a) after “scheme” insert “
(other than those due to be paid before the determination is made)
”
, and
(b)
in paragraph (b) omit “new”.
(3)
After subsection (3) insert—
“(4)
This section also does not apply in relation to a trust scheme where the trustees are required to wind up, or continue the winding up, of the scheme under section 154(1) of the Pensions Act 2004 (requirement to wind up certain schemes with sufficient assets to meet protected liabilities).”